Question
Dorothy acquired a 100% interest in two passive activities: Activity A in January 2010 and Activity B in 2011. Through 2013, Activity A was profitable,
Dorothy acquired a 100% interest in two passive activities: Activity A in January 2010 and Activity B in 2011. Through 2013, Activity A was profitable, but it produced losses of $200,000 in 2014 and $100,000 in 2015. Dorothy has passive income from Activity B of $20,000 in 2014 and $40,000 in 2015. The amount of losses she may deduct in 2015 is $ ________ and the total suspended losses carried forward to 2016 is $________.
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South Western Federal Taxation 2015
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
38th Edition
978-1305310810, 1305310810, 978-1285439631
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